Proponents in the PCECP for Petroleum shall submit the required documents in accordance with Department Circular No. DC-2017-12-0017, as follows:
- Work Program Documentation
- Financial Documentation
- Technical Documentation
- Legal Documentation
The objective of the DOE is to achieve thorough resource evaluation, efficient and maximum exploration success in the contract areas.
To this end, DOE will select proponents that can demonstrate a good understanding of the possible resource potential of the block in question, and will carry out a work program that will efficiently map and test this potential.
Proponents shall have experience in exploration and field development in similar areas and shall have the necessary risk capital and financial capability to explore and develop the possible oil and gas resources.
In evaluating the documentation submitted by each proponent, the DOE Centralized Review and Evaluation Committee (C-REC) will assess the proposal based on the criteria listed below. The weighing factors are indicative and DOE reserves the right to reject any or all proposals submitted.
|Weight in Percent
|Resource potential and exploration approach
|Experience and track record
|Evidence of available funds
|Finance track record
|Completeness and validity of required legal documents
|PASS or FAIL
Proposals will only be accepted upon presentation of an original official receipt of payment of a non-refundable application fee of Php 200,000.00 per area (PHP 1,000,000 for challengers of nominated areas). The winning proponent shall be charged an additional processing fee of Php 0.48 per hectare.